Kraken and Backed deepen xStocks reach with BNB Chain integration

In conjunction with xStocks partner Backed, we are excited to announce a strategic partnership with BNB Chain, one of the world’s leading blockchain ecosystems. Through this partnership, BNB Chain joins the rapidly growing xStocks Alliance, further accelerating onchain access to tokenized U.S. equities for users across the world.

In the coming weeks, we will allow xStocks to be deposited and withdrawn from our platform by eligible clients via the BNB Chain.

As part of the collaboration, Backed will deploy xStocks – the industry standard for tokenized equities – on BNB Chain as BEP-20 tokens, giving users seamless access to tokenized representations of U.S.-listed stocks and ETFs.

This includes assets like AAPLx, TSLAx, SPYx and NVDAx. By expanding to BNB Chain, xStocks continues its mission to meet users where they are – bringing traditional equities onchain and opening access for underserved markets around the world.

BNB Chain was selected for the alliance due to its high performance, low transaction fees and its position as one of the largest blockchain ecosystems by on-chain activity. With around $10 billion in TVL and one of the most active Web3 user communities, it offers a strong foundation for growing tokenized asset adoption.

Together with Backed and BNB Chain, we remain committed to democratizing investing by enabling 24/7 exposure to U.S. markets – anytime, all over the world.

Arjun Sethi, Kraken co-CEO, said: “The response to xStocks has made one thing increasingly clear: The future of capital markets will be chain-neutral, composable and multichain by design,” said.

“Expanding to BNB Chain reinforces our core belief that tokenized equities are not just digital wrappers for traditional assets – they are a foundational upgrade to the financial system itself. These instruments behave as programmable settlement primitives, unlocking atomic settlement, real-time global transferability and composability with onchain lending, derivatives and structured products.”

“In a world that will inevitably be multichain, it is critical that assets like equities can move fluidly across ecosystems, protocols, and liquidity layers without being gated by jurisdiction or legacy custodial rails. As more chains integrate xStocks, we are not just expanding access. We are building the infrastructure to make equities globally accessible, usable and interoperable for both retail and institutional capital. This is the beginning of an always-on equity market, one that is permissionless, transparent, and built for the internet.”

Adam Levi, co-founder of Backed, said: “xStocks are built as a neutral, public-good asset class, and expanding to BNB Chain is a key step toward making them the standard for tokenized equities. Our goal is to bring traditional finance onto blockchain rails – not just by improving access, but by enabling true composability. Integrated into DeFi, tokenized equities will surpass the scale and utility of stablecoins. With BNB Chain’s global reach and deep liquidity, it’s a natural partner for advancing that vision.”

Sarah S, Head of Business Development at BNB Chain, said: “Tokenizing real-world assets on BNB Chain is a meaningful step in making global finance more accessible and transparent. Our collaboration with Kraken and Backed reflects BNB Chain’s commitment to bringing high-quality financial instruments on-chain and connecting traditional markets with decentralized finance for users around the world.”

BNB Chain’s addition marks another significant milestone for xStocks, expanding the alliance to one of the world’s largest and most active blockchain ecosystems. Recently, Kraken launched over 60 tokenized U.S. equities – deployed by Backed as SPL-tokens on Solana – for users across 185 countries. This strategic partnership signals the next phase in mainstreaming tokenized equities, cementing xStocks’ leading role at the forefront of this rapidly evolving digital asset landscape.